- VeChain will introduce a new feature that will allow users to manage their wallets with the Web2 social identity, including emails.
- Meanwhile, the VeChain Renaissance upgrade is expected as the team looks to achieve greater decentralization, new validation opportunities, and modified VTHO tokenomics.
VeChain (VET) introduces an interesting addition as its latest feature allows users to create and manage wallets using Web2 social identity such as emails, social media, etc.
According to a demo video shared by VeChain’s Vineet Singh, users can now copy product keys or export account seed phrases. They can also add a passcode to protect their accounts.
A fantastic new feature for the VeChain ecosystem đź‘Ź You can now create/manage wallets as easily as logging into the social platform of your choice. Our goal is to put Web3 applications in the hands of millions. Innovations like these bring us one step closer.
GG, @agilulfo18! $VET https://t.co/Aaa9CN3DHl— VeChain (@vechainofficial) December 19, 2024
Meanwhile, this major addition comes as VeChain prepares to comprehensively upgrade its VeChainThor through a technical roadmap called VeChain Renaissance.
The improvement of the Renaissance
VeChain Rebirth is reportedly generally looking to achieve two main goals: reimagined Tokenomics and technological equivalence. A full realization of this upgrade would allow for greater decentralization, new validation opportunities, and modified VTHO tokenomics.
Under technological equivalence, VeChain seeks to ensure easy communication with other networks while complying with industry standards. As we previously reported, Ethereum Virtual Machine (EVM) and JSON-RPC are currently marked as the communication standard, and finalizing this comprehensive update would facilitate integration, cross-chain, developer adoption, and institutional or enterprise integration .
To date, we’ve delivered some incredibly innovative tools, from our unique two-token model to fee delegation that eliminates the need for users to own cryptoassets. By opening our blockchain to other EVM chains, we offer our unique selling points to the market and benefit from innovations elsewhere.
Despite these major additions, VeChain’s native token, VET, has declined by 9% in the last 24 hours and 20% in the last seven days. However, its 30- and 90-day earnings remain positive, with a 41% and 93% wave, respectively.
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Analysts Delve into VeChain (VET) Price Analysis
According to an analyst identified as UNO 1, FP is significantly undervalued, especially with recent innovative partnership deals with companies such as UFC, Kuehne + Nagel, BMW, Walmart, Haier and Shanghai Gas. As we highlighted above, he believes that the asset’s dominance in the Real World Assets (RWA) industry has not yet manifested itself in its price.
Designed for supply chain management, it uses a unique dual-token system and proof-of-authority consensus mechanism to enable fast and secure tracking of physical products throughout their lifecycle, making it ideal for companies seeking to verify authenticity and monitor the movement of products within complex supply chains, unlike many other general-purpose blockchains.
For World of Charts, VET is forming a bullish pennant pattern that could position it for an explosive run. Meanwhile, analyst Michaël van de Poppe believes that the current consolidation of the asset is healthy.
Source: Michael van de Poppe
Furthermore, the bullish trend has not started yet as 2025 could be a big year for the asset.
$VET is ready to continue moving forward. It has seen a substantial upward movement as, fundamentally, the ecosystem is thriving. As we can see, these periods usually conclude with a consolidation period. Overall, the uptrend has only just begun and with VeBetter being the cornerstone and expanding rapidly, I expect we will see a strong 2025 for the entire VeChain ecosystem.
